Zaandam, the Netherlands, January 2, 2020 - Ahold Delhaize today commences the €1 billion share buyback program announced on December 4, 2019 and expects to complete the program before the end of 2020.
As indicated in our announcement on 4 December 2019, maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders is part of Ahold Delhaize’s financial framework to support its Leading Together strategy. The purpose of the program is to reduce the capital of Ahold Delhaize, by cancelling all or part of the common shares acquired through the program.
The program will be executed by intermediaries allowing the execution of share repurchases in the open market during open and closed periods. The program will be executed within the limits of relevant laws and regulations, the existing authority granted at Ahold Delhaize’s 2019 annual general meeting of shareholders on April 10, 2019 and the authority (if granted) by the annual general meeting on April 8, 2020.
Ahold Delhaize will provide regular updates on the progress of the program by means of press releases.
This communication includes forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Words such as expects, purpose, will, will be or other similar words or expressions are typically used to identify forward-looking statements.
Forward-looking statements are subject to risks, uncertainties and other factors that are difficult to predict and that may cause actual results of Koninklijke Ahold Delhaize N.V. (the “Company”) to differ materially from future results expressed or implied by such forward-looking statements. Such factors include, but are not limited to the risk factors set forth in the Company’s public filings and other disclosures. Forward-looking statements reflect the current views of the Company’s management and assumptions based on information currently available to the Company’s management. Forward-looking statements speak only as of the date they are made and the Company does not assume any obligation to update such statements, except as required by law.